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Wound healing is a dynamic process which needs appropriate environment to stimulate healing. Nowadays more than 3000 products have been innovated to promote wound healing by considering various types of characteristics of wounds. A bandage is a piece of material such as a tape or cloth that is used to cover and bind up wounds by applying the technique of pressure, which controls bleeding. A bandage is also used to support strains and sprains and is wrapped around the joints for wound compression.

Based on product, the global wound bandages market can be classified into elastic bandages, compression bandages, adhesive bandages, liquid bandages, and others. The adhesive bandages segment is projected to account for a significant share of the wound bandages market in the near future due to increase in the number of recreational activities in all age groups of people, which leads to a rise in the number of cuts and scratches. In terms of end-user, the global wound bandages market can be categorized into hospitals, clinics, nursing homes, ambulatory surgical centers, home health care, and others. The clinics segment is expected to constitute a considerable share of the wound bandages market during the forecast period because both acute and chronic injury cases are largely treated at clinics due to the availability of advanced treatment in the setups.

Rise in the number of injuries, surgeries, and trauma and burn cases is anticipated to drive the global wound bandages market. Moreover, increase in the incidence of cut injuries and laceration among children, rise in preference of physicians for compression therapy in the treatment of venous leg ulcers, and increase in preference of patients for cost-effective dressings and reduced risk of infection are projected to drive the wound bandages market. However, high prices of newly launched and technologically advanced wound care bandages is anticipated to hamper the wound bandages market during the forecast period.          

In terms of region, the global wound bandages market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global wound bandages market. The region is projected to account for a significant share of the global wound bandages market during the forecast period due to a rise in the number of injuries (cuts, scrapes, scratches, etc.) among people due to accident. According to a report of The National Ambulatory Medical Care Survey, every year more than 3 million people visited the emergency department of hospitals in the U.S. due to foot and ankle injury. Moreover, many independent studies have revealed that every year more than 3.5 million children under the age of 14 receive medical treatment for sports injuries in the U.S.

Rise in the incidence of workplace injuries, falls, burns, etc. across Europe is  projected to propel the wound bandages market in the region. According to Health and Safety Executive data, 2014, the incidence of workplace injury in France was 3.14 per 100,000. Increase in awareness about wound dressing products such as bandages, which prevent contamination of wounds by holding the dressing in position and prevent and control hemorrhages, is projected to drive the wound bandages market in Asia Pacific. Moreover, increase in patient awareness about self-treatment to cure cuts and injuries is estimated to drive the wound bandages market in Asia Pacific. Rise in the prevalence of accidents and cut injuries, availability of advanced wound products, improved health care infrastructure, and rise in awareness about the risk of infection from wounds are likely to propel the wound bandages market in Middle East & Africa during the forecast period.

Major players operating in the global wound bandages market include Johnson & Johnson, 3M, Medline Industries, Inc., B. Braun Melsungen AG, Moberg Pharma North America, and Cardinal Health.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wound Bandages Market

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